Magazine article American Banker

ABA Offers Helping Hand on Electronic Banking

Magazine article American Banker

ABA Offers Helping Hand on Electronic Banking

Article excerpt

A new book-and-video package promises to help executives of smaller banks jump-start their electronic banking services.

Developed by the American Bankers Association, "The Community Bankers Electronic Banking Toolbox" is designed to help executives assess their needs and formulate an electronic banking strategy for their institutions. The package, available only to ABA member banks, includes a five-minute video and 225-page book full of work sheets and samples.

"It's perfect to get started, but it's also good for banks already involved," said Kathleen Murphy, director of the ABA's Community Bankers Council, which developed the "Toolbox." Ms. Murphy said bankers like the book's step-by-step approach and practical orientation.

Leon Patterson, the chief executive of Palmetto Bank in Laurens, S.C., said the book "helped him understand the big picture of electronic banking."

In particular, he said, he liked its marketing survey, which is designed to help an executive assess customers' electronic banking needs. Nearly 35 million households have home computers.

Mr. Patterson said his bank intends to use the package, even though Palmetto Bank already offers a credit card, a debit card, and telephone banking.

The book also helps executives develop an electronic strategy by cataloging their electronic banking options, such as telephone banking, Internet banking, and card-based products.

These chapters give bankers a solid overview of electronic banking, and provide ratings sheets that bankers can use to decide what options best suit their needs. …

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